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The promoters said the plan is to hold half of the 14 cards in venues in the United States, with the other half taking place elsewhere in the world, though Europe will be the focus. They said each fight would take place in a major arena, and then they ticked off several, including New York's Madison Square Garden and Barclays Center, Staples Center in Los Angeles, T-Mobile Arena in Las Vegas and other major venues in the United Kingdom and Germany.

There are many details still to be ironed out and announced, but the lure of perhaps as much $1 million for the quarterfinal fights should go a long way toward attracting competitors. Schaefer said the participants, who will be subject to drug testing in accordance with World Anti-Doping Agency standards, would each receive the same base purse, with the winner of each fight getting a win bonus as he advances on to the next round.With any tournament there is always the possibility that a participant might drop out because of an injury or other reasons. Schaefer and Sauerland said they will have a pool of reserve boxers, whose names will be made public and who will be scheduled to fight on each undercard. So if there is a withdrawal, one of them will be available to take over the spot."Like in other sports [the tournament] will not be stopped or slowed for any one individual," Sauerland said.Schaefer said he believes they will be able to get other promoters to allow their fighters to participate because of the amount of money at stake and the fact that the tournament organizers will not ask for any future rights to that fighter.

"The promoter makes money, the fighter makes Fight money and the promoter doesn't have to chase TV deals," Schaefer said. "If [the promoter's fighter] wins he gets back a fighter who has been exposed on a global scale."Said Sauerland: "We are not here to conquer and divide. We are here to add [to boxing]. This is about putting the best fights on, and ultimately, we are talking about a sizable check, which is better for all promoters.